Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 4250 LANCASTER PIKE SUITE 150
  Room/suite
City or town
WILMINGTON
State or province
DE
Country  
ZIP or foreign postal code
19805
A Employer identification number

65-0350358
B Telephone number (see instructions)

8132634133
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$22,333,223J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 517,410 517,410  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 464,692
b Gross sales price for all assets on line 6a 3,029,894
7 Capital gain net income (from Part IV, line 2)... 464,692
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 982,102 982,102  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 112,889     112,889
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
500 0 0 500
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
55,179 55,179   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
19,960 8,857   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 15,000 0 0 15,000
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
8 8    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 203,536 64,044 0 128,389
25 Contributions, gifts, grants paid....... 1,000,000 1,000,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 1,203,536 64,044 0 1,128,389
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -221,434
b Net investment income (if negative, enter -0-) 918,058
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............   45,643 45,643
2 Savings and temporary cash investments......... 1,250,579 503,526 503,526
3 Accounts receivable  
Less: allowance for doubtful accounts     0 0
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts 0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 10,157,105 Click to see attachment
List of Attached Documents:
// Content
9,985,200 		15,667,343
c Investments—corporate bonds (attach schedule)....... 5,579,846 Click to see attachment
List of Attached Documents:
// Content
6,172,610 		6,116,711
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........     0
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 16,987,530 16,706,979 22,333,223
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 16,987,530 16,706,979
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 16,987,530 16,706,979
30 Total liabilities and net assets/fund balances (see instructions). 16,987,530 16,706,979
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
16,987,530
2
Enter amount from Part I, line 27a .....................
2
-221,434
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
2
4
Add lines 1, 2, and 3 ..........................
4
16,766,098
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
59,119
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
16,706,979
Form 990-PF (2025)
Form 990-PF (2025)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 50. ABBOTT LABORATORIES   2021-02-05 2025-03-04
b 250. ABBOTT LABORATORIES   2021-02-05 2025-03-10
c 125. ADOBE INC   2024-07-31 2025-11-04
d 21. ALPHABET INC CL C   2024-07-31 2025-10-20
e 412. ALPHABET INC CL C   2012-01-30 2025-12-31
13793.103 BBH INCOME FUND-I   2018-09-06 2025-12-05
12207.031 BBH PARTNER FUND - INTERNATIONAL EQUITY   2013-12-10 2025-09-30
18491.484 BBH PARTNER FUND - INTERNATIONAL EQUITY   2013-12-10 2025-12-05
3595.724 BBH LIMITED DURATION FUND CL I   2024-02-01 2025-01-29
9643.202 BBH LIMITED DURATION FUND CL I   2024-07-31 2025-01-29
53810.882 BBH LIMITED DURATION FUND CL I   2016-05-06 2025-01-29
47892.72 BBH LIMITED DURATION FUND CL I   2016-05-06 2025-02-20
3349.191 BBH LIMITED DURATION FUND CL I   2023-06-05 2025-12-05
33. BRIGHT HORIZONS FAMILY SOLUT COM STK   2023-03-15 2025-08-07
37. BRIGHT HORIZONS FAMILY SOLUT COM STK   2023-03-15 2025-08-08
47. BRIGHT HORIZONS FAMILY SOLUT COM STK   2023-03-15 2025-08-11
42. BRIGHT HORIZONS FAMILY SOLUT COM STK   2023-03-15 2025-08-12
41. BRIGHT HORIZONS FAMILY SOLUT COM STK   2023-03-15 2025-08-13
25. BROWN & BROWN INC   2024-08-20 2025-03-13
63. BROWN & BROWN INC   2024-08-20 2025-04-03
29. BRUKER CORP COM STK   2024-08-20 2025-08-07
243. BRUKER CORP COM STK   2023-03-15 2025-08-07
230. BRUKER CORP COM STK   2024-08-20 2025-08-08
62. BRUKER CORP COM STK   2023-08-24 2025-08-08
261. BRUKER CORP COM STK   2024-10-22 2025-08-11
179. BRUKER CORP COM STK   2023-08-24 2025-08-11
1. COSTCO WHOLESALE CORP   2024-07-31 2025-06-09
15. COSTCO WHOLESALE CORP   2024-07-31 2025-06-10
8. COSTCO WHOLESALE CORP   2019-01-02 2025-06-10
21. COSTCO WHOLESALE CORP   2019-01-02 2025-06-11
75. CROWN HOLDINGS INC COM   2023-03-15 2025-04-25
86. CROWN HOLDINGS INC COM   2023-03-15 2025-04-28
83. CROWN HOLDINGS INC COM   2023-03-15 2025-05-01
84. CROWN HOLDINGS INC COM   2023-03-15 2025-05-02
94. ASPEN TECHNOLOGY, INC. COM STK   2023-03-15 2025-03-13
58. GUIDEWIRE SOFTWARE INC COM STK   2024-08-20 2025-01-23
11. GUIDEWIRE SOFTWARE INC COM STK   2024-08-20 2025-02-26
10. GUIDEWIRE SOFTWARE INC COM STK   2024-08-20 2025-06-04
12. HEICO CORP CL A   2024-08-20 2025-05-30
2. NVR INC COM STK   2023-03-15 2025-10-10
1. NVR INC COM STK   2023-03-15 2025-10-13
50. ORACLE CORP   2014-10-15 2025-09-04
75. ORACLE CORP   2014-10-15 2025-10-09
50. ORACLE CORP   2014-10-16 2025-10-10
50. ORACLE CORP   2014-10-16 2025-11-04
50. ORACLE CORP   2014-10-16 2025-11-05
475. PEPSICO INC   2023-08-28 2025-06-11
.846 AKRE FOCUS FUND-INS   2015-09-15 2025-10-15
25. PROGRESSIVE CORP OHIO   2024-07-31 2025-01-13
50. PROGRESSIVE CORP OHIO   2024-07-31 2025-01-14
50. PROGRESSIVE CORP OHIO   2024-07-31 2025-01-15
175. PROGRESSIVE CORP OHIO   2024-07-31 2025-03-10
11. TORO COMPANY COMMON STOCK   2023-03-15 2025-04-07
113. TORO COMPANY COMMON STOCK   2023-03-15 2025-04-09
57. TORO COMPANY COMMON STOCK   2024-08-20 2025-04-22
24. TORO COMPANY COMMON STOCK   2024-03-15 2025-04-22
74. TORO COMPANY COMMON STOCK   2024-08-20 2025-04-28
63. TORO COMPANY COMMON STOCK   2024-05-31 2025-04-29
4. TORO COMPANY COMMON STOCK   2024-03-18 2025-04-29
50. UNITEDHEALTH GROUP INC   2022-11-03 2025-05-13
100. UNITEDHEALTH GROUP INC   2022-11-03 2025-05-15
1. WATSCO INC COM STK   2024-08-20 2025-02-21
14. ZEBRA TECHNOLOGIES CORP COM   2024-08-20 2025-04-22
25. ICON PLC COM STK   2024-08-19 2025-10-01
25. LINDE PLC   2024-07-31 2025-08-28
50. LINDE PLC   2018-10-31 2025-08-29
50. ALCON INC COM STK   2024-07-31 2025-05-22
125. ALCON INC COM STK   2024-07-31 2025-05-27
75. ALCON INC COM STK   2024-07-31 2025-05-28
73. GLOBANT SA COM STK   2024-08-20 2025-09-09
8. GLOBANT SA COM STK   2024-10-04 2025-09-10
65. GLOBANT SA COM STK   2024-04-02 2025-09-10
67. GLOBANT SA COM STK   2024-10-04 2025-09-11
6. GLOBANT SA COM STK   2023-05-19 2025-09-11
73. GLOBANT SA COM STK   2023-04-06 2025-09-12
77. GLOBANT SA COM STK   2025-04-03 2025-09-15
21. GLOBANT SA COM STK   2023-04-06 2025-09-15
98. GLOBANT SA COM STK   2025-04-22 2025-09-16
CAPITAL GAIN DIVIDENDS P    
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CAPITAL GAIN DIVIDENDS P    
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CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 6,918   6,181 737
b 34,474   30,907 3,567
c 41,892   70,076 -28,184
d 5,394   3,651 1,743
e 129,464   70,345 59,119
124,000   137,655 -13,655
250,000   186,398 63,602
380,000   276,251 103,749
37,539   37,000 539
100,675   100,000 675
561,786   541,876 19,910
500,000   482,080 17,920
35,200   33,626 1,574
3,958   2,606 1,352
4,433   2,922 1,511
5,567   3,712 1,855
4,965   3,317 1,648
4,891   3,238 1,653
2,947   2,577 370
7,854   6,493 1,361
897   1,896 -999
7,513   17,387 -9,874
7,002   15,040 -8,038
1,888   3,841 -1,953
7,971   15,719 -7,748
5,467   10,553 -5,086
1,007   814 193
15,033   12,212 2,821
8,018   1,633 6,385
20,907   4,287 16,620
6,701   5,852 849
7,700   6,711 989
7,998   6,476 1,522
8,140   6,555 1,585
24,910   18,234 6,676
11,792   8,556 3,236
2,207   1,623 584
2,556   1,475 1,081
2,824   2,244 580
15,022   14,143 879
7,579   5,323 2,256
11,132   1,910 9,222
22,457   2,855 19,602
14,803   1,899 12,904
12,333   1,899 10,434
12,523   1,899 10,624
61,830   83,345 -21,515
57   19 38
5,838   5,358 480
11,843   10,716 1,127
12,035   10,716 1,319
48,997   37,504 11,493
706   1,176 -470
7,769   12,065 -4,296
3,794   5,114 -1,320
1,597   2,156 -559
5,057   6,639 -1,582
4,317   5,197 -880
274   359 -85
15,749   27,161 -11,412
27,006   53,344 -26,338
501   474 27
3,169   4,812 -1,643
4,728   8,101 -3,373
12,038   11,384 654
23,951   8,173 15,778
4,310   4,730 -420
10,849   11,825 -976
6,403   7,095 -692
4,385   14,714 -10,329
460   1,560 -1,100
3,735   13,053 -9,318
3,891   13,067 -9,176
348   1,007 -659
4,146   11,219 -7,073
4,260   8,095 -3,835
1,162   3,122 -1,960
5,491   9,955 -4,464
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
      240,861
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       737
b       3,567
c       -28,184
d       1,743
e       59,119
      -13,655
      63,602
      103,749
      539
      675
      19,910
      17,920
      1,574
      1,352
      1,511
      1,855
      1,648
      1,653
      370
      1,361
      -999
      -9,874
      -8,038
      -1,953
      -7,748
      -5,086
      193
      2,821
      6,385
      16,620
      849
      989
      1,522
      1,585
      6,676
      3,236
      584
      1,081
      580
      879
      2,256
      9,222
      19,602
      12,904
      10,434
      10,624
      -21,515
      38
      480
      1,127
      1,319
      11,493
      -470
      -4,296
      -1,320
      -559
      -1,582
      -880
      -85
      -11,412
      -26,338
      27
      -1,643
      -3,373
      654
      15,778
      -420
      -976
      -692
      -10,329
      -1,100
      -9,318
      -9,176
      -659
      -7,073
      -3,835
      -1,960
      -4,464
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 464,692
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ......................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 12,761
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 12,761
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 12,761
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 7,804
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 7,804
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 4
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 4,961
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax0 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
FL
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website address  
14
The books are in care ofBROWN BROTHERS HARRIMAN TRUST CO NA Telephone no. (302) 552-4040

Located at4250 LANCASTER PIKE SUITE 150WILMINGTONDE ZIP+419805
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
BROWN BROTHERS HARRIMAN TR CO OF DE TRUSTEE
1 		112,889    
4250 LANCASTER PIKE SUITE 150
WILMINGTON,DE19805
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
BRUCE W MOSKOWITZ MD CONSULTANT 3,000
225 LIST ROAD
PALM BEACH,FL33480
STEVEN M ATLSCHULER MD CONSULTANT 3,000
1500 WEST 6000 NORTH
OAKLEY,UT84055
JUSTIN MCARTHUR MD CONSULTANT 3,000
1708 BOLTON STREET
BALTIMORE,MD21217
ALEISTER J SAUNDERS PH D CONSULTANT 3,000
3180 CHESTNUT STREET
PHILADELPHIA,PA19104
LISA M GUAY-WOODFORD MD CONSULTANT 3,000
11022 KENILWORTH AVENUE
GARRETT PARK,MD20896
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 NONE  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
22,024,728
b
Average of monthly cash balances.......................
1b
869,517
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
22,894,245
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
22,894,245
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
343,414
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
22,550,831
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,127,542
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,127,542
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
12,761
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
12,761
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,114,781
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,114,781
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,114,781
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........
1a
1,128,389
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,128,389
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 1,114,781
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 858,940
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 0
b From 2021...... 0
c From 2022...... 0
d From 2023...... 0
e From 2024...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 1,128,389
a Applied to 2024, but not more than line 2a 858,940
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		0
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 269,449
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		845,332
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 0
c Excess from 2023 .... 0
d Excess from 2024 .... 0
e Excess from 2025 .... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
NONE
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
NONE
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

CHILDREN'S HOSPITAL OF PHILADELPHIA

ABRAMSON RESEARCH CENTER STE 1216
PHILADELPHIA,PA19106 		NONE   RESEARCH SUPPORT 100,000

DREXEL UNIVERSITY

3201 ARCH STREET SUITE 100
PHILADELPHIA,PA191042875 		NONE   GENERAL SUPPORT 100,000

JOHN'S HOPKINS UNIVERSITY
SCHOOL OF MEDICINE
733 NORTH BROADWAY SUITE 117
BALTIMORE,MD21205 		NONE   GENERAL PURPOSE 100,000

MASSACHUSETTS GENERAL HOSPITAL

55 FRUIT STREET
BOSTON,MA02114 		NONE   RESEARCH SUPPORT 200,000

THE WISTAR INSTITUTE

3601 SPRUCE STREET
PHILADELPHIA,PA19104 		NONE   GENERAL PURPOSE 100,000

THOMAS JEFFERSON UNIVERSITY

925 CHESTNUT STREET
PHILADELPHIA,PA19107 		NONE   RESEARCH SUPPORT 100,000

UNIVERSITY OF PENNSYLVANIA

3800 SPRUCE STREET
PHILADELPHIA,GA19104 		NONE   RESEARCH SUPPORT 100,000

UNIVERSITY OF ROCHESTER

PO BOX 270032
ROCHESTER,NY14627 		NONE   GENERAL PURPOSE 100,000

UNIVERSITY OF WISCONSIN

780 REGENT ST
MADISON,WI53706 		NONE   RESEARCH SUPPORT 100,000
Total ................................. 3a 1,000,000
bApproved for future payment
Total ................................. 3b  
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 517,410  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 464,692  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   982,102  
13Total. Add line 12, columns (b), (d), and (e)..................
13
982,102
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Preparer's name Preparer's Signature Date Check if self-
employed 		PTIN
Firm's name
Firm's EIN
Firm's address


Phone no.
Form 990-PF (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 500     500

TY 2025 InvestmentsCorpBondsSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Name of Bond End of Year Book Value End of Year Fair Market Value
BBH LIMITED DURATION FUND CL I 867,842 908,468
BBH INCOME FUND FUND CL I 5,304,768 5,208,243

TY 2025 InvestmentsCorpStockSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Name of Stock End of Year Book Value End of Year Fair Market Value
BBH INTERNATIONAL EQTY FD CL N 1,825,744 2,946,514
BERKSHIRE HATHAWAY INC CL B 15,364 131,694
MICROSOFT CORP 235,554 350,625
ORACLE CORP 31,879 170,936
ALPHABET INC CL C 83,621 294,031
AKRE FOCUS FUND 886,943 2,555,480
GQG PART EMERG MKTS 694,197 943,164
KLA CORP 37,042 270,963
LINDE PLC 51,979 135,592
BOOKING HOLDING 81,836 160,660
BRIGHT HORIZONS    
COSTCO WHOLESALE CORP 19,394 81,922
ARTHUR J GALLAGHER & CO 89,978 133,794
ALCON INC 71,673 96,463
MASTERCARD INCORPORATED 118,668 211,226
AMAZON.COM INC 178,133 246,054
NIKE INC CL B 100,039 88,429
PROGRESSIVE CORP OHIO 30,932 96,781
CLARKSTON FOUNDERS FUND-INST 328,867 388,343
CLARKSTON SERIES TRUST CLARKST 1,155,000 1,414,943
ABBOTT LABS 90,370 97,100
MCDONALD'S CORP 74,347 84,048
PROCTER & GAMBLE CO 77,304 82,403
BLACKROCK INC COM 96,822 160,551
S&P GLOBAL INC COM STK 81,722 123,854
JOHNSON & JOHNSON 92,989 113,823
THERMO FISHER SCIENTIFIC INC 95,520 110,675
UNITEDHEALTH GROUP INC    
ZOETIS INC COM STK 48,186 77,002
WASTE MANAGEMENT INC 35,025 155,994
ADOBE INC 102,516 87,498
APPLE COMPUTER INC 124,380 237,878
TEXAS INSTRUMENTS INC 121,698 130,118
GQG PART QLTY INST 835,115 1,051,904
PEPSICO INC    
APPLIED MATERIALS INC 90,862 160,619
AUTOMATIC DATA PROCESSING INC 91,760 95,947
ECOLAB INC 56,932 85,319
ADVANCED DRAINAGE SYSTEM INC C 50,947 63,291
APTARGROUP INC COM 42,713 40,979
ARISTA NETWORKS INC COM STK 31,641 68,660
BROWN & BROWN INC 49,393 56,029
BRUKER CORP COM STK    
CROWN HOLDINGS INC COM    
DARLING INGREDIENTS INC COM 61,133 50,400
ASPEN TECHNOLOGY, INC. COM STK    
ENTEGRIS INC COM STK 55,416 49,623
GFL ENVIRONMENTAL COM STK 65,666 70,868
GXO LOGISTICS INCORPORATED COM 66,682 69,748
GUIDEWIRE SOFTWARE INC COM STK 40,671 88,645
HEICO CORP CL A 35,343 58,564
LPL FINANCIAL HOLDINGS INC COM 34,189 60,005
MISTER CAR WASH INC COM 21,948 17,080
NVR INC COM STK    
SHIFT4 PAYMENTS INC CL A 70,134 60,199
TAKE-TWO INTERACTIVE SOFTWRE C 32,965 67,080
TORO CO COM STK    
VULCAN MATERIALS CO 32,393 46,491
WATSCO INC COM STK 86,123 78,509
WYNDHAM HOTELS & RESORTS INC C 58,329 60,675
ZEBRA TECHNOLOGIES CORP COM 38,902 31,324
GLOBANT SA COM STK    
OTIS WORLDWIDE CORPORATION COM 84,098 76,431
CADENCE DESIGN SYS INC 67,314 78,145
CBRE GROUP INC CL A 56,806 88,435
WEST PHARMACEUTICAL SVCS INC 55,775 61,907
WILLSCOT MOBILE MINI HOLDINGS 51,508 30,599
ICON PLC COM STK 69,975 54,666
COCA-COLA CO 35,758 34,955
WALMART INC 94,616 108,625
ELI LILLY & CO 58,012 80,601
NOVO NORDISK SPONS ADR 22,017 13,992
ANALOG DEVICES INC 17,691 27,120
NVIDIA CORP 43,094 79,263
SERVICENOW INC 89,212 76,595
VISA INC CL A 12,074 12,976
BJ'S WHOLESALE CLUB HOLDINGS 50,215 47,266
ITT INC 46,288 47,715
KEYSIGHT TECHNOLOGIES INC 39,868 55,877
TRADEWEB MARKETS INC CL A 32,960 32,370
UL SOLUTIONS INC CLASS A 30,940 49,288

TY 2025 OtherDecreasesSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Description Amount
2025 SALES POSTED IN 2026 59,119


TY 2025 OtherExpensesSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE 8 8   0


TY 2025 OtherIncreasesSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Description Amount
ROUNDING ADJUSTMENT 2


TY 2025 OtherProfessionalFeesSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMNT MNGMNT FEES (NON-DED 55,179 55,179    


TY 2025 TaxesSchedule
Name:
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
EIN:
65-0350358
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAX PAYMENT - PRIOR YE 3,299 0   0
FEDERAL ESTIMATES - PRINCIPAL 7,804 0   0
FOREIGN TAXES ON QUALIFIED FOR 8,074 8,074   0
FOREIGN TAXES ON NONQUALIFIED 783 783   0